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On April 1 of Year 1, Mountain Company sold merchandise and received a $34,800, three-year, noninterest-bearing note. The market rate is 10%. Mountain Company has

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On April 1 of Year 1, Mountain Company sold merchandise and received a $34,800, three-year, noninterest-bearing note. The market rate is 10%. Mountain Company has a March 31 year-end. Use the effective interest method to amortize any discount. Required Prepare entries for Mountain Company on April 1 of Year 1, and March 31 of Year 2, Year 3, and Year 4. - Note: Round answers to the nearest whole dollar

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